Can I retire at age 64 with 893,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$73,743$73,086$72,445$71,820$71,209$70,879
2 years$36,506$35,827$35,168$34,529$33,909$33,576
3 years$24,096$23,413$22,756$22,123$21,513$21,188
4 years$17,892$17,211$16,560$15,938$15,343$15,027
5 years$14,170$13,494$12,852$12,242$11,664$11,358
6 years$11,690$11,019$10,386$9,790$9,229$8,935
7 years$9,919$9,253$8,631$8,049$7,506$7,223
8 years$8,592$7,932$7,320$6,752$6,227$5,955
9 years$7,560$6,906$6,304$5,751$5,244$4,983
10 years$6,735$6,087$5,496$4,958$4,468$4,218
11 years$6,060$5,419$4,839$4,315$3,843$3,604
12 years$5,498$4,864$4,294$3,785$3,330$3,102
13 years$5,023$4,396$3,837$3,341$2,904$2,686
14 years$4,616$3,996$3,447$2,966$2,545$2,338
15 years$4,264$3,650$3,112$2,645$2,241$2,044
16 years$3,956$3,349$2,822$2,368$1,981$1,793
17 years$3,685$3,084$2,568$2,128$1,756$1,578
18 years$3,444$2,850$2,344$1,918$1,562$1,392
19 years$3,229$2,641$2,146$1,733$1,392$1,231
20 years$3,035$2,454$1,969$1,569$1,243$1,091
21 years$2,860$2,286$1,811$1,424$1,113$969
22 years$2,701$2,134$1,670$1,295$997$862
23 years$2,557$1,996$1,542$1,179$895$767
24 years$2,424$1,870$1,426$1,076$805$684
25 years$2,302$1,755$1,320$982$724$610
26 years$2,190$1,649$1,225$898$652$545
27 years$2,086$1,552$1,137$822$588$487
28 years$1,990$1,463$1,057$753$531$436
29 years$1,901$1,380$984$691$479$390
30 years$1,818$1,303$916$634$433$349
31 years$1,740$1,232$854$582$391$313
32 years$1,667$1,166$797$535$354$281
33 years$1,599$1,104$744$492$320$252
34 years$1,535$1,046$695$453$290$226
35 years$1,475$992$650$417$263$203
36 years$1,418$942$608$384$238$182
37 years$1,365$895$569$354$216$163
38 years$1,314$850$533$326$196$147
39 years$1,266$808$499$301$177$132
40 years$1,221$769$468$277$161$119
41 years$1,178$732$439$256$146$107
42 years$1,137$697$412$236$132$96
43 years$1,098$664$386$218$120$86
44 years$1,061$633$363$201$109$77
45 years$1,026$604$341$186$99$70
46 years$992$576$320$172$90$63
47 years$960$550$300$159$82$56
48 years$929$525$282$147$74$51
49 years$900$501$265$135$67$46
50 years$872$479$250$125$61$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $893,000, adding $5,414 every year, while hoping to spend $33,926 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 62/24/14 Blend
63$893,000$893,000$893,000$893,000
64$989,671$942,342$928,500$1,047,326
65$1,054,520$952,419$923,508$1,096,770
66$1,124,847$961,854$917,211$1,146,375
67$1,201,174$970,578$909,531$1,199,704
68$1,284,077$978,519$900,383$1,257,119
69$1,374,189$985,602$889,682$1,319,020
70$1,472,204$991,745$877,334$1,385,851
71$1,578,889$996,860$863,245$1,458,098
72$1,695,086$1,000,857$847,314$1,536,299
73$1,821,723$1,003,637$829,437$1,621,048
74$1,959,820$1,005,096$809,504$1,713,000
75$2,110,499$1,005,123$787,400$1,812,878
76$2,274,997$1,003,601$763,005$1,921,481
77$2,454,674$1,000,405$736,193$2,039,687
78$2,651,029$995,403$706,834$2,168,468
79$2,865,710$988,454$674,789$2,308,897
80$3,100,533$979,410$639,915$2,462,154
81$3,357,498$968,111$602,063$2,629,546
82$3,638,805$954,391$561,075$2,812,510
83$3,946,880$938,073$516,787$3,012,636
84$4,284,391$918,967$469,029$3,231,676
85$4,654,278$896,876$417,620$3,471,561
86$5,059,780$871,588$362,376$3,734,424
87$5,504,461$842,880$303,100$4,022,618
88$5,992,251$810,516$239,588$4,338,737
89$6,527,475$774,245$171,628$4,685,644
90$7,114,898$733,804$98,999$5,066,495
91$7,759,769$688,912$21,467$5,484,774
92$8,467,870$639,274$0$5,944,321
93$9,245,571$584,576$0$6,458,525
94$10,099,888$524,488$0$7,026,925
95$11,038,549$458,662$0$7,651,502
96$12,070,071$386,726$0$8,337,981
97$13,203,835$308,292$0$9,092,674
98$14,450,175$222,947$0$9,922,537
99$15,820,477$130,256$0$10,835,241
100$17,327,286$29,759$0$11,839,240